Published: Thu, July 12, 2018
Markets | By Noel Gibbs

Amir attends inauguration ceremony of Turkish President

Amir attends inauguration ceremony of Turkish President

After Erdogan announced that Berat Albayrak will lead the new post of treasury and finance minister- a combination of two previous positions-the value of the Turkish lira dropped 3.6 percent, worrying investors.

The president will also have the power to dissolve parliament, issue executive decrees and impose a state of emergency.

"There is no stopping for us until we bring Turkey - which we saved from plotters, coupists and political and economic hitmen, street gangs and terrorist organisations - to among the top 10 economies in the world", he said.

"We make a promise once more to strengthen our nation's unity and brotherhood and to continue making our country great and glorifying our state", Erdoğan said after visiting the mausoleum of Mustafa Kemal Atatürk, the Turkish republic's founder, in the capital, Ankara.

Rahul moves to career-high third position in T20I rankings
Australia skipper Aaron Finch ( 891 points) and Pakistan's Fakhar Zaman (842 Points) occupy the top two spots. It's a career-best number for him, his first time in the Top 10, with 690 points, also a career high.


The inauguration ceremony, which was held in the Presidential Compound Monday evening, was attended by a number of heads of states and governments, representatives of heads of states, ministers, heads of parliaments of some countries and representatives of global organisations.

Amir H H Sheikh Tamim bin Hamad Al Thani with Sudan's President, Omer Al Bashir and former president of Turkey, Abdullah Gul, during the inauguration ceremony of Turkish President Recep Tayyip Erdogan.

Before Erdogan took oath for a new term in office, the government removed a clause that had stated the central bank governor was appointed by cabinet decision for five years, and could be re-appointed.

The Turkish strongman, 64, who first came to power as prime minister in 2003, won the June 24 elections, steering Turkey's transition to an executive presidential system approved in a 2017 referendum.

Israel Intercepts Incoming Drone from Syria
On June 24, Israel's military said it launched a Patriot missile at an incoming drone from Syria, which turned away unscathed. The air force has struck many targets it describes as Iranian deployments or arms transfers to Iran supported Hezbollah.


Erdogan made the comments to reporters traveling on his plane to a North Atlantic Treaty Organisation summit in Brussels, according to CNN Turk and other broadcasters. While martial law would no longer exist, the president would be able to declare a similar state of emergency, giving authorities powers to restrict basic rights and freedoms.

Speaking at his sprawling presidential compound in Ankara, Erdogan unveiled the rebranded presidency "on this most important day of our country".

The lira stood at 4.8270 to the dollar at 1553 GMT, weakening more than 2.5 percent from Tuesday's close of 4.7062. The economy is experiencing high inflation, a declining currency and twin current account and budget deficits even as Erdogan insists on low interest rates.

The AKP failed to win a majority in parliament, taking 294 of the 600 seats, meaning it will need its allies in the Nationalist Movement Party (MHP), which has 49 seats, to ensure a majority. Ties with the United States and other North Atlantic Treaty Organisation partners also frayed, but Turkey remains crucial for any hope of stability in Syria and Iraq and curbing refugee flows to Europe.

Lovren ready for Kane test at World Cup
England's last appearance at this stage was in 1990 when they lost in a penalty shootout to West Germany in Turin. Win or lose, both teams will play two more games in the tournament.


Like this: